Worten Spain has decided that they will be closing around 17 stores to give more time to their e-commerce sector. The concerned authorities of the company will be closing around 17 physical stores that are situated in Spain. It is said that the authorities of the company will try to increase their focus on online sales channels. They were also witnessing continuous losses since the year 1998. They mainly deal with electronics products but the company has seen dissolution a lot of times. The company was founded in Portugal in the year 1996. Although, it entered the Spanish market much later in the year 2008. The company also acquired Boulanger and its 9 physical stores.
The success of the company was not going well for a lot of time. As calculated by the concerned authorities, the company has lost around 385 million euros in the last two decades. These euros were lost in Spain. The company had a total of 60 stores. Out of these 60, 17 stores will be closed in the upcoming time. Around 60 stores by the company were situated in Spain. Although, 11 of these outlets closed around last year. Three of the stores were closed in January and another three were closed in last June. The concerned authorities of the company worked very hard to adjust the situation but they were not able to control the losses of the company. It is also said that the company started to generate losses every year since the year 1998.
The company is working more and more towards the development of digital channels so that they can increase e-commerce sales. It is also said that the company doubled the activity of e-commerce as compared to the last year. The objective of the company is to improve the profitability of the operations in the region of Spain. The company has also till now remained consistent with business in the region of Spain. The authorities of the company are also framing out a new strategy so that they can rise in the market and develop themselves once again.
